Bourse Direct is now one of the first French online brokers to provide its clients with “Best Execution”, through its connection with Equiduct, the pan-European trading platform.
The principle of offering clients best execution is required by MiFID, which came into force in November 2007, and has long been lacking for individual investors.
The complexity of the new trading landscape and the importance of related costs have so far been a major obstacle to the development of best execution strategies. Today, the orders of retail customers are still mainly traded on domestic exchanges, even though they have already lost significant market share on the most liquid stocks. The remaining liquidity is not sufficient to guarantee the best price for investors. Competition from new trading platforms and their order book has generated opportunities for better transaction conditions, which were previously not available to retail investors.
"We are very pleased that through this partnership, Bourse Direct can provide its retail clients with the benefits from MiFID: more competitive trading fees, improved traded prices and transparency " said Peter Randall, CEO of Equiduct.
Indeed, Equiduct’s unique model offers Bourse Direct’s customers a guarantee of best price execution, with an improvement of several euro per order on average compared to the primary markets. They will also continue to benefit from the same standards of protection.
"By connecting to Equiduct, we offer our customers a solution that allows them to capitalise on the increasing fragmentation of liquidity, a major consequence of MiFID, which is a priority for us," added Catherine Nini CEO of Bourse Direct.
At the time of the MiFID review, Bourse Direct has a definite advantage over its competitors.
